The Foreshore Residence affordable housing project is expected to reach completion by 2026. The development aims to offer 482 affordable housing units ranging in size from 800 to 900sq.ft., along with 321 low-medium cost housing units with a built-up area of 700sq.ft.

During the offer letter handover ceremony held at the construction site of Foreshore Residence, caretaker state Local Government, Housing, Town and Planning Committee chairman Jagdeep Singh Deo highlighted the exceptionally low prices of the affordable housing units in Penang. He emphasized that Penang is the only state that has refrained from increasing prices, unlike other states. The low-medium cost units are priced at RM72,500 each, while the low-cost units are priced at RM42,000 each.

Today, the first group of applicants for the affordable housing project received their offer letters from Jagdeep during the ceremony. Stressing the reasonable pricing of the Foreshore Residence units due to their urban location, Jagdeep assured attendees that the state government will not only announce the project but also supervise its progress until completion.

Jagdeep revealed that the state government’s objective is to construct 220,000 affordable homes of various types by 2030, with over 150,000 units already completed. These units include low-cost, low-medium cost, affordable homes, and rent-to-own housing. However, despite the provision of various affordable housing options, residents continue to encounter challenges regarding bank loan approvals. Jagdeep pledged to personally address this issue with the Prime Minister.

Additionally, former Pengkalan Kota assemblyman Daniel Gooi stated that the former occupants of the land where the Foreshore Residence housing project is being developed will receive compensation in the form of housing units. These occupants are not required to make purchases but will be allocated units as compensation. Gooi urged the concerned parties to promptly contact the developer and complete the affordable home application form (PN1) to facilitate further arrangements.